Logo ofSaudi Ground Services Co. (SGS)
Saudi Ground Services Co. (SGS) signed two Shariah-compliant bank facilities agreements with Saudi National Bank (SNB) and Banque Saudi Fransi (BSF), drawdown when needed up to SAR 550 million and SAR 300 million, respectively. 
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In a statement to Tadawul, the company said that the funding was obtained from SNB on May 11, 2025, and will be valid until Dec. 31, 2027. Meanwhile, the financing secured from BSF was issued on May 15, 2025, and will be available until April 30, 2026, and may be extended for one year.
SNB credit is aimed at supporting liquidity position to fund working capital requirements when needed with up to SAR 450 million, while the non-funded part of SAR 100 million covers the contractual agreements for the company.
Both deals are intended to provide a flexible source of funding to fund the working capital requirement when needed, which in turn will help achieving the balanced liquidity policy that the company has developed as one of the precautionary measures when needed to support the liquidity position.
The agreements would assist with financing the working capital requirements if needed while continuing with the expansion and growth strategic initiatives to grow the company and elevate the quality of services. The deals reflect the quality of the company’s credit rating and the banking confidence in the company’s capabilities and financial position, along with the strength of the ground services industry in the Kingdom.
To achieve the optimum utilization of the agreements and to avoid unnecessary cost, the company will review the working capital requirements on a monthly basis and will only drawdown once it is needed, the statements added.
Logo ofSaudi Ground Services Co. (SGS)
Saudi Ground Services Co. (SGS) signed two Shariah-compliant bank facilities agreements with Saudi National Bank (SNB) and Banque Saudi Fransi (BSF), drawdown when needed up to SAR 550 million and SAR 300 million, respectively.
For more news on listed companies
In a statement to Tadawul, the company said that the funding was obtained from SNB on May 11, 2025, and will be valid until Dec. 31, 2027. Meanwhile, the financing secured from BSF was issued on May 15, 2025, and will be available until April 30, 2026, and may be extended for one year.
SNB credit is aimed at supporting liquidity position to fund working capital requirements when needed with up to SAR 450 million, while the non-funded part of SAR 100 million covers the contractual agreements for the company.
Both deals are intended to provide a flexible source of funding to fund the working capital requirement when needed, which in turn will help achieving the balanced liquidity policy that the company has developed as one of the precautionary measures when needed to support the liquidity position.
The agreements would assist with financing the working capital requirements if needed while continuing with the expansion and growth strategic initiatives to grow the company and elevate the quality of services. The deals reflect the quality of the company’s credit rating and the banking confidence in the company’s capabilities and financial position, along with the strength of the ground services industry in the Kingdom.
To achieve the optimum utilization of the agreements and to avoid unnecessary cost, the company will review the working capital requirements on a monthly basis and will only drawdown once it is needed, the statements added.
